Spend a little quality time with Hayman Capitals Kyle Bass and three of his circle of investing friends in this all too brief video.
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Myra P. Saefong and Sara Sjolin write for MarketWatch: SAN FRANCISCO (MarketWatch) — Gold futures took a hit on Thursday as concerns that the Federal Reserve could scale back its stimulus next week pulled prices down by more than 2%. Gold for February delivery dropped $29.40, or 2.4%, to $1,227.80 an ounce on the Comex division of the New York Mercantile Exchange. March silver also sank 81 cents, or 4%, to $19.55 an ounce. “The odds for
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For the Wall Street Journal, Rob Copeland reports: One of the worlds biggest gold bugs is getting crushed by the metals steep fall. The flagship fund of prominent Canadian hedge-fund manager Eric Sprott has dropped more than 50% this year in what will likely be the third consecutive year of double-digit percentage losses, according to documents sent to investors. Redemptions and weak performance have pushed down hedge-fund assets managed by Mr. Sprott to about $350 million from
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HOUSTON – Judging by our mail there may be some confusion or at least some misunderstanding as to the positioning of the largest traders of silver futures. Apparently some of our readership has assumed that the positioning in silver futures is similar to what we found in gold futures, because we have seen commentary which suggests that the Producer Merchants were “heavily net long” silver futures, and similar comments. (The Producer Merchants, the gold trade and the
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Just a quick note on the gold/silver ratio, an indicator we pay attention to. This Tuesday morning’s breakout attempt for precious metals, which has gold testing the $1260s and silver testing the $20.30s, is at least partly “confirmed” by action in the gold/silver ratio. In the chart below, which uses the GLD/SLV Ratio as a proxy for the gold/silver ratio in hourly terms, note that the ratio has begun to fall as gold has caught a bid
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Our friend Dennis Gartman, who pens the essential and widely read The Gartman Letter, a daily service on the capital markets, current events, politics, etc., had comments we deem worthy of wide distribution in this morning’s edition. We hope Dennis won’t mind our sharing the clip below. Dennis wrote: “The Endangered Species Act went into effect in 1973 and here we are 40 years later and only now are we learning that the case that kicked the
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Shivom Seth, Mineweb writes: An Indian wedding without gold is an unheard of thing. With the nation moving into wedding season mode, gold importers are making hay across the country, asking for extremely strong premiums from jewellers, who have been rushing to get hold of the precious metal. Imports are down to a trickle. There is absolutely no gold available anywhere in the country.
Continue reading "Gold premiums soar in India-A surge in the physical gold premium to new levels signals strong demand from India." »
John Crudele, New York Post writes: The most curious thing of all about the November jobs report released on Friday was the huge drop in the unemployment rate — and the fact that the Labor Department chose not to disclose that the data going into that figure are under investigation for falsification.
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Anthony MIrhaydari, MarketWatch writes: They say those who forget the lessons of history are doomed to repeat them. As a student of market history, I’ve seen that maxim made true time and again. The cycle swings fear back to greed. The overcautious become the overzealous. And at the top, the story is always the same: Too much credit, too much speculation, the suspension of disbelief, and the spread of the idea that this time is different.
Continue reading "Ghost of 1929 crash reappears Commentary: Pay attention to the signals" »
Ambrose Evans-Pritchard writes: BlackRock, the world’s biggest investor, has warned that central banks are poised to tighten monetary policy in the Anglo-Saxon countries and China, advising clients to be ready to pull out of global stock markets at any sign of serious trouble.
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For Mining.com Ana Komnenic reports: Revenue-Quebec has filed 240 charges against Kitco Metals and its founder Bart Kitner, accusing theCanadian precious metals purchaser of tax fraud. In response, Kitco says it will file a claim for $122 million in damages.
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Before the release of the Non Farm Payrolls last week on Friday, US markets could not catch a break. Lower highs and lower lows were put in on the daily chart of the SP 500 after the new high was printed on November 29th. On Thursday, stocks took the day to consolidate inside the prior days price range, but exploded to the upside at 7:30 cst. Markets were treated to a better-than-expected jobs number where 203,000 jobs
Continue reading "Brian Booth's Weekly Gold Report December 9, 2013" »
A worthwhile message from our favorite PJTV personality, Bill Whittle, whom we hope to meet someday soon if for no other reason than to shake his hand and talk about Andrew B. Quote: The entire state of California is now a fun free zone. Mr. Whittle gets it. The setup for the video reads: Its a free country, but not so much in California, where theres:
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VANCOUVER, B.C. – True Gold Mining Inc. (TSX-V; TGM) (“True Gold” or the “Company”) is pleased to announce that the Company has exercised its option to acquire the remaining 10% interest (the “Interest”) in the Goulagou and Rounga permits (the “Permits”), two of the six permits comprising the Karma Gold Project (“Karma Project”) in Burkina Faso, West Africa.
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John Fund, National Review, hit the nail on the head - Young people reject Obama’s gamble with their future; they prefer online casinos. President Obama is back selling his health-care law with the manic intensity of a late-night-infomercial pitchman who knows that if he doesn’t move the product, it could be discontinued. Here’s Obama aiming his comments at young people this Wednesday: “The product is good. It’s affordable. This is a big deal, to quote Joe Biden.
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The 2013 hurricane season just ended as one of the five quietest years since 1960. But don’t expect anyone who pointed to last year’s hurricanes as “proof” of the need to act against global warming to apologize; the warmists don’t work that way.
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David Sheppardand Ron Bousso write for Reuters: Dec 5 (Reuters) - Deutsche Bank AG pulled the plug on its global commodities tradingbusinesson Thursday, cutting 200 jobs as it becomes the first major bank to exit the once lucrative sector due to toughening regulations and diminished profits.
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For the independent website In Gold We Trust, Koos Jansen writes: Wednesday I had the privilege again to interview Alex Stanczyk, Chief Market Strategist for theAnglo Far- East group of companies, who just returned from a trip to Switzerland. Alex confirmed to me the distribution of gold from west to east is not slowing down whatsoever. Refineries in Switzerland are still working 24 hour a day to cast bars for China, sometimes having difficulties sourcing the gold..
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COEUR DALENE, IDAHO--(Marketwired - Dec. 5, 2013) -Timberline Resources Corporation (NYSE MKT:TLR)(TSX VENTURE:TBR)(Timberline or the Company) announced today that the Company has entered into a Confidentiality Agreement, including a No-Shop/Exclusivity clause valid through February 28, 2014, with RockStar Resources, a private corporation, (RockStar) in order to explore mutually beneficial transactions. As consideration for the grant of exclusivity, RockStar has agreed to purchase a total of US$750,000 of Timberlines common stock for US$0.20 per share in three tranches;
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HOUSTON – What are we to make of the fact that the largest, best funded and probably the best informed traders of COMEX gold futures on the planet have become net long gold futures, according to data released Monday by the Commodity Futures Trading Commission (CFTC)? Net long means that these veteran traders, called by the CFTC “Producers, Merchants, Processors and Users,” now have more contracts which benefit from higher gold prices than lower prices. That’s very
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In the opening pages of Ray Bradbury’s famous novelFahrenheit 451, protagonist Guy Montag asks: Wasn’t there a time when firemen used to put out fires? They laugh at him, rebuke him and say: Everybody knows firemen start fires. Montag knew this. Montag’s father and his grandfather had been firemen. It had been his duty for many years to start fires. He knew it was his duty to burn books, but this day would be different. Montag arrived
Continue reading "EXCLUSIVE -- RAND PAUL: AMERICANS TRADING LIBERTY FOR FALSE SECURITY" »
An interesting end to this story. Selling to a private company. We will see more and more of it because of Canadian over regulation. Calico Resources Corp. (TSX-V: CKB) (“Calico”) is pleased to announce that it has entered into a binding Memorandum of Agreement (the “Agreement”) with Rockstar Resources, Inc. (“Rockstar”), a private company incorporated under the laws of Idaho, USA, to sell its Grassy Mountain Gold Project by way of selling (the “Sale”) all of the
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Be sure and catch Grant Williams’s presentation at the ASFA 2013 Conference in Perth, Australia, appended below. The popular writer of the periodical offering Things That Make You Go Hmmm, lays out the bubbly scene in the equities and bond markets today and suggests that, with Janet Yellen about to take the helm at the U.S. Federal Reserve, those protecting wealth need to pay attention and look beyond the horizon. Translation: Get liquid soon without delay now.
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Grant Williams provides a facinating (and entertaining) read on manipulation of the gold market begining in 1961 with the London Gold Pool and the power now wielded today. Just a few excerpts ... The signatories to this particular agreement were, in alphabetical order, the central banks of Belgium, France, Germany, Italy, the Netherlands, Switzerland, the United Kingdom, and the United States; but unlike other agreements of the time — such as that signed at Bretton Woods in
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Recent video interview with Casey Research Chief Economist Bud Conrad. Topics include gold price suppression via the COMEX, delivery concentration, long term expectations for U.S. dollar and gold. (About 11 minutes.)
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We begin the final month of 2013 with a week full of important economic data. From every major market in the world, there are reports and interviews scheduled that collectively should provide some nice volatility over the next five trading days. In the United States, we will hear from multiple FED Members throughout the week, including Bernanke, Fischer, and Evans. There are also scheduled releases of manufacturing, GDP, Consumer Confidence, and most importantly Unemployment figures from the
Continue reading "Brian Booth's Weekly Gold Report December 2, 2013" »
BERLIN (Reuters) - An American who won this years Nobel Prize for economics believes sharp rises in equity and property prices could lead to a dangerous financial bubble and may end badly, he told a German magazine. Robert Shiller, who won the esteemed award with two other Americans for research into market prices and asset bubbles, pinpointed the U.S. stock market and Brazilian property market as areas of concern. I am not yet sounding the alarm. But
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Ron Paul writes: One economic myth is that paper money is wealth. The proponents of big government oppose honest money for a very specific reason. Inflation, the creation of new money, is used to finance government programs not generally endorsed by the producing members of society. It is a deceptive tool whereby a “tax” is levied without the people as a whole being aware of it. Since the recipients of the newly created money, as well as
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Frank Holmes,CEO and Chief Investment Officer,U.S. Global Investors writes: I recently returned from India, a nation where an incredible 600 million people are under the age of 25. That’s nearly double the entire population of the U.S.! What’s amazing about that figure is that, unlike the 1970s when India had no global footprint, today’s generation is increasingly gaining access to the Internet. Social networking platforms are seeing an incredible growth trajectory in India, as one of the
Continue reading "From the Taj Mahal to Westminster Abbey: Notes from a Global Investor" »
GGR comment -Just one of the many potential flashpoints. Tim Kelly and Phil Stewart, Reuters: TOKYO/WASHINGTON (Reuters) - Two unarmed U.S. B-52 bombers flew over disputed islands on a training mission in the East China Sea without informing Beijing while Japans main airlines ignored Chinese authorities when their planes passed through a new airspace defense zone on Wednesday. The defiance from Japan and its ally the United States over Chinas new identification rules raises the stakes in
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